Legal Entity Identifier India: Extension of March 31 2020 deadline

30.03.202030.03.2020

As of 27 March 2020, the Reserve Bank of India has announced an extension of Phase III deadline for money markets. The initial deadline of March 31 2020 has been extended to September 30 2020. This affects entities with net worth of up ₹ 200 crore.

2. Based on the feedback and requests received from market participants, in the context of the difficulties arising from the outbreak of novel coronavirus disease (COVID-19), and with a view to enabling smoother implementation of the LEI system in non-derivative markets, the timeline for implementation (Phase III) is extended as under:

Phase

Net Worth of Entities

Current Deadline

Extended Deadline

Phase III

Up to ₹ 200 crore

March 31, 2020

September 30, 2020

3. These directions are issued under section 45W, read with section 45U, of the Reserve Bank of India Act, 1934.